Several years ago, Jacob purchased 100 shares of New Corporation common stock for $2,000 ($20 per share). On July 4 of the current year, Jacob sells all 100 shares for $1,000. On August 1 of the current year, Jacob purchases 75 shares (three-fourths of the original shares) of New Corporation common stock.

	A.	$250 of the loss Jacob incurred is not deductible as he reacquired 75 shares of New Corporation common stock
	B.	$750 of the loss Jacob incurred is deductible as he reacquired 75 shares of New Corporation common stock
	C.	Jacob recognizes a $250 loss
	D.	This is a wash sale and the $1,000 loss is disallowed